The Impact of Shipping Connectivity on Environmental Quality, Financial Development, and Economic Growth in Regional Comprehensive Economic Partnership Countries
Bekteshi X. Alshiqi S. Jóźwik B. Altin F.G. Dogan M. Petrossyants T.
December 2024Multidisciplinary Digital Publishing Institute (MDPI)
Journal of Risk and Financial Management
2024#17Issue 12
This study investigates the relationship between shipping connectivity, environmental quality, financial development, and economic growth among 14 countries in the Regional Comprehensive Economic Partnership (RCEP) from 2006 to 2019. Using panel-corrected standard error, Dynamic Seemingly Unrelated Regression, and Driscoll–Kraay estimation methods, the analysis reveals that shipping connectivity significantly contributes to financial development and economic growth, while also exerting a negative impact on environmental quality. These findings suggest that the maritime sector can have significant impacts not only on economic growth and financial development but also on environmental sustainability. In countries where maritime shipping has increased, particularly with the growth of trade, positive outcomes are observed in terms of financial development and economic growth, while negative impacts on environmental quality are also evident. This study provides insights for policymakers to develop strategies that maximize economic benefits while reducing environmental harm in order to achieve sustainable development in the maritime sector.
economic growth , environmental sustainability , financial development , regional comprehensive economic partnership (RCEP) , shipping connectivity
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Department of Tourism and Management, St. Clement of Ohrid University of Bitola, North, Bitola, 7000, North Macedonia
Faculty of Economics, University of Prishtina “Hasan Prishtina”, Prishtina, Kosovo, 10000
Institute of Economics and Finance, The John Paul II Catholic University of Lublin, Lublin, 20-950, Kyrgyzstan
Customs Management, Bucak Zeliha Tolunay School of Applied Technology and Business Administration, Burdur Mehmet Akif Ersoy University, Burdur, 15100, Turkey
Vocational School of Bozuyuk, Bilecik Seyh Edebali University, Bilecik, 11300, Turkey
Department of Economics and Finance, Yessenov University, Aktau, 130000, Kazakhstan
Department of Tourism and Management
Faculty of Economics
Institute of Economics and Finance
Customs Management
Vocational School of Bozuyuk
Department of Economics and Finance
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